This year seven companies have submitted ten applications to the Government

Posted: Samat Posted: 31 October 2014 09:09 Category: Hard News Views: 340

According to the Ministry of the National Economy, this year seven companies have submitted ten applications to the Government Commission with a request to lower TPUM rate for them, even considering a possibility to set a zero rate. Kazakhmys Corporation and Karazhanbasmunay JSC have already received a positive decision. One application was rejected, and the other six ones are still pending. Among them there is the application of Kazakhstan Aluminium JSC of the Eurasian Resource Group whose petition is on the waiting list, Zakon.kz IA informs.

Nikolay Radostovets, Director of the Association of Mining and Metallurgical Enterprises:

“The Government has such a right, which it uses when it sees that any production has fallen below zero, but tomorrow it will rise due to the cyclical nature of the market. What has dropped now, later will recover and maybe even increase. Therefore, the Government makes decisions on such enterprises. In this case, the application was filed by Kazakhstan Aluminium as the aluminum price is extremely low and is not likely to rise significantly in the near future”.

Nikolay Radostovets believes that the company is ready to difficulties. However, he considers that the company will be granted tax reliefs.

Nikolay Radostovets, Director of the Association of Mining and Metallurgical Enterprises:

“I think they will. Secondly, I know that the management of Kazakhstan Aluminium is developing options to use certain resources that allow to engage people in auxiliary industries, in the expansion of certain company’s projects. That is, in this case, the staff reduction in this form is not necessary”.

 

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